After the rich-lister rescue, chief operating officer Grant Payton told the Herald the rebooted Ubco would fulfil the transtasman contract as part of a new focus on fleet business.
It did, and then some.
Payton said Australia Post took delivery of its 1000th Ubco Duty bike in March and has placed an order for 1500 more.
100 to DX Mail, 106 initial order to NZ Post
After a 12-month trial, business mail specialist DX Mail (owned by Freightways) has ordered 100 Ubco bikes, which will be delivered by year’s end, Payton said.
NZ Post has also placed a substantial order after a pilot.
“Electric vehicles already play a key role in how we deliver and we’re accelerating that shift across our own fleet, as well as transitioning to a low-emission, last-mile delivery service,” NZ Post head of sustainability Kate Saunders said.
An Ubco Duty bike on NZ Post’s trial. The Duty has a top speed of 95km/h and a 100km maximum range.
“We have worked with Ubco to trial their electric motorcycles and see these as a natural replacement to our petrol fleet.
“We have placed an initial order for 106 Ubco electric motorcycles and will continue to assess our ongoing needs.”
NZ Post has about 140 petrol bikes in its fleet, plus 250 of the Norwegian-made four-wheeler Paxsters.
Ubco has long coveted replacing all of them. Now it has a wheel in the door and there are hints of more business to come.
“As part of our standard fleet management process, we review the size and composition of our fleet on an ongoing basis to ensure it is safe, efficient, meets our low-emission ambitions, and delivers for our people and customers,” Saunders said.
“While we don’t yet have any confirmed plans, we are in the early stages of considering options for when the current Paxster fleet reaches end of life.”
NZ Post started buying Paxsters last decade and at its peak owned more than 400, at a cost of about $24,000 each.
Ubco hasn’t put a public price on its Duty bike – and fleet deals will involve scale pricing – but the 2X2 model it evolved from sells for between $8599 and $9490 depending on options.
What’s next, part I: Back to rural roots
With its fleet business now on a firm footing, Ubco wants to get back into the farming market, Payton said.
The electric motorbike maker first made a splash when it hit Fieldays in 2015 with its debut model, an all-electric utility bike that appealed to farmers because its almost silent-running was animal friendly, and the engine with almost no moving parts meant no running costs.
It helped, too, that the removable battery could also be used to recharge power tools.
Ubco had no stand at Fieldays this year, but the company is working on an upgraded farm bike, which Payton said will have more grunt and better shock absorbers. The plan is for a return to Mystery Creek in 2027.
The turnaround
Payton said staff numbers have increased to 25, with another five being hired, but the reborn company is being more careful about how quickly it accelerates.
“We’re aiming to be breakeven in the next 12 months and then profit in the next financial year,” Payton said.
Why the wheels fell off
The initial iteration of Ubco sold more than 6000 bikes but then, Payton said, it tried to expand too far, too fast.
Pain points included an aggressive push into the US market that didn’t pay off, capital ploughed into a quad bike that never eventuated and hipster urban models that were not price-competitive with Chinese competition.
What’s next, part II: Soldiers and cops
In early 2025, Mark Phillips, the erstwhile head of Ubco’s Australian business, also blamed the receivership in part on squeamishness about pursuing defence opportunities.
“Attending a defence trade show led to an opportunity to bid for supply of electric bikes to the military that we were then told not to pursue, because some board members were against putting anything in defence. I felt it was short-sighted but nonetheless disengaged,” Phillips told the Herald.
“I can’t say we would have won it. But in my opinion, it was a ludicrous decision.”
The new owners have no such qualms.
Ubco chief operations officer Grant Payton says the reborn company is being careful about how quickly it accelerates. Photo / NZME
When the Herald spoke to Payton, he was about to take off to Europe to attend Eurosatory 2026, a military trade show in Paris.
Defence forces and law enforcement are in his sights. The Gendarmerie is running an Ubco trial.
The COO said there has been significant interest from military and police forces worldwide. He sees agriculture and land management, defence and law enforcement as Ubco’s three key markets.
Ubco continues to service bikes made by its failed predecessor, but has no immediate plans for selling bikes to urban hipsters.
“We’re making tools, not toys,” Payton said.
Chris Keall is an Auckland-based member of the Herald’s business team. He joined the Herald in 2018 and is the technology editor and a senior business writer.